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Same wine in the old VAT ::: Dailymirror.lk ::: Breaking News: The government imposed this tax hike earlier, and it went awry after the Supreme Court ruled that the process adopted in introducing it was unconstitutional and against the Standing Orders governing parliamentary businesses. In fact, the Joint Opposition petitioned the Supreme Court in this respect. In precedence to the court intervention, the country witnessed an upheaval against the VAT hike, particularly as wholesale and retail traders took to the street against the broadening of the threshold for tax registration. ��

After the Bill was rendered nullity on the last occasion, the government was in a predicament as it opted out of a measure to generate revenue for budgetary support. So, it took fresh initiatives to proceed with it. After careful calculation, the new Bill was presented for Cabinet approval and now it has been gazetted. Next, it is expected to be presented in Parliament next week for enactment. ��